Assessment of Risk Management Practice in the Project of Importing and Distribution of New Pharmaceutical Product: The Case of Ethiomed Pharmaceuticals Plc

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Addis Ababa University


The purpose of this study is to assess the current risk management practices of importing new pharmaceutical products in Ethiomed Pharmaceutical PLC. The practice is assessed in regards of the risk management process that include risk planning, identifying, analyzing, responding, and controlling. The study design used was descriptive research design, incorporating qualitative and quantitative research approaches. The target population was the staff members of Ethiomed Pharmaceutical plc and primary data was collected from 34 respondents out of the total population of 46 which are selected using non-probability purposive sampling and the data collected was analyzed using SPSS version 19. Semi-structured interviews were also conducted from 3 managers and the CEO of the company. The data collected was analyzed qualitatively by integrating secondary data obtained from articles, reports, previous research, and the Ethiomed company manual. Findings from the study show that the risk management practice is at a fairly medium level of maturity with still requirements for improvement in every process involved in it. Even If the findings show that the risk management system is treated as a continuous process when importing new pharmaceutical products, documentation and policy of any kind are not in place to guide the practice. The project lacks a clear view of planned strategy to respond to risks faced and options for identification and response methods are limited. The study recommends a defined and tangible guideline in practicing risk management while importing new pharmaceutical products in the company that provides clear conduction of actions towards risk. Moreover, the importance of examining other options in the identification of risk and response methods is recommended as a solution to improve the practice. Documentation of previous risk assessments can prove to be decisive and used as a reference, therefore it is recommended highly throughout the study